Impactful changes this week across environmental policy, green financing, and sustainable business practices brought to you by NeoImpact

Welcome to the 19th edition of Impact Herald Weekly. This week's news highlights significant global strides in sustainability across the world, majorly in the EU.?In EU, new regulations are adopted to curb packaging waste, while the UEFA launches has taken significant measures across environmental and social indicators to promote sustainability in sport. In Sweden, SEB Manages SEK 2 Billion Green Bond for Biodiversity, issued by IFC to improve biodiversity financing. In the Americas, Canada launches new sustainability reporting standards while the Biden administration in the U.S. has set an ambitious 2035 climate target. Learn more on these news pieces below!

Monday, December 16, 2024

European Union adopts new rules to curb packaging waste

The EU finalized a regulation designed to significantly reduce packaging waste and promote reuse across the continent. The rules, effective in 18 months, set binding reuse targets for 2030 and 2040, limiting single-use plastics and mandating minimized packaging. Recycled content targets are also established, reaching 65% for single-use plastic bottles by 2040. Key provisions include restrictions on single-use plastics, particularly in food service and cosmetics, and mandates for businesses to minimize packaging volume and materials of concern like PFAS. This comprehensive approach aims to transition the EU towards a more sustainable and circular economy for packaging, addressing the concerning rise in packaging waste generation.

Tuesday, December 17, 2024

Skandinaviska Enskilda Banken AB has arranged a SEK 2 billion green bond focused on financing biodiversity

Swedish bank SEB acted as the sole manager for a SEK 2 billion (approximately USD 180 million) green bond issued by the International Finance Corporation (IFC), to fund biodiversity projects in emerging markets.? This 5-year bond, IFC's second dedicated to biodiversity, will fund projects protecting biodiversity and ecosystem services in emerging markets.? The issuance, driven by investment from Swedish state pension fund AP7, highlights the growing focus on biodiversity finance following COP16.? Funds will support initiatives such as reforestation in Latin America and forest regeneration in Colombia, demonstrating a commitment to aligning private sector investments with global sustainability goals.

Wednesday, December 18, 2024

Canada unveils sustainability reporting standards – CSDS and CSSB

Canada's new Canadian Sustainability Disclosure Standards (CSDS) were released by the Canadian Sustainability Standards Board (CSSB). CSDS 1 and 2, aligning with global IFRS S1 and S2 but including transition relief, aim to enhance the consistency and comparability of sustainability reporting in Canada. These voluntary standards address material sustainability-related financial information and significant climate-related risks and opportunities. The CSSB plans continued engagement with stakeholders to further develop and refine these crucial standards, ensuring they effectively meet the needs of Canadian businesses and investors. The standards are designed to support high-quality, decision-useful sustainability information.

Thursday, December 19, 2024

The Biden Administration in the U.S. sets ambitious 2035 climate target

Current United States president Biden unveiled a new climate goal to slash U.S. greenhouse gas emissions by 61-66 percent below 2005 levels by 2035. This ambitious target, formally submitted to the UN, builds on the existing 2030 goal and aims for net-zero emissions by 2050. The plan leverages investments from recent legislation, federal regulations, and partnerships across all levels of government and the private sector. It seeks to create high-paying jobs, reduce costs for Americans, and solidify U.S. leadership in clean energy. The administration projects at least a 35% reduction in methane emissions by 2035. This strategy capitalizes on reducing clean energy costs and technological advancements to transition towards a sustainable and economically viable clean energy future.

Friday, December 20, 2024

Union of European Football Associations (UEFA) releases 2023/24 respect report showcasing strides taken to create sustainable future in sport across more than 100 KPIs

The UEFA has taken a transparent and data-driven approach to improve social and environmental sustainability in football through taking 70+ targeted actions across 100+ Key Performance Indicators (KPIs). These strategic KPIs include actions around circular economy, climate action advocacy, event sustainability, infrastructure sustainability, and equality and inclusion, among others. In terms of ‘climate and advocacy strategic process’ the UEFA has achieved reduction in carbon ?????? footprint across 12 events by 63% in 2023/2024 season compared to the 2022/23 season (18 events). In terms of event sustainability, it has association has achieved the highest level of excellence, certified by DEKRA (a third-party environmental tester and certifier). All these results highlight the bright future for revolutionizing sustainability in sport.

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